SAN FRANCICO, September 18, (THEWILL) – Vice President Yemi Osinbajo has said that the fashion industry will be one of the biggest sources of revenue to the country in the near future.
In a statement during the virtual commissioning of the Micro, Small and Medium Enterprises (MSMEs) Fashion Hub in Lagos on Friday, Osibanjo said “the fashion industry will be one of Nigeria’s biggest sources of revenues and I can assure you, it will be much bigger than all that we see today.”
While emphasizing that the industry itself covers a wide range of shared facilities of various kinds. Osibanjo stressed that the fashion hub, is the latest example which seeks to provide high-quality operating equipment which more businesses can access at a reasonable cost
He disclosed that the fashion hub will service three hundred and eighty MSMEs daily; “the ripple effects of the shared facility will be felt massively by businesses especially those around it’, he said.
The vice-president added that “the facility will generally help in reducing the operating cost for users, allowing them to invest their savings in expanding their businesses and hiring more staff. Although the former Lagos State Attorney General and Commissioner for Justice admitted that 2020 has been a rough one due to the COVID-19 pandemic, he assured that the Federal Government is deeply committed to helping MSMEs.”
“As we all know, MSMEs are the engine of the Nigerian economy. When they strive, the economy strives; when they struggle, the economy struggles. This is why the Federal Government is deeply committed to ensuring that we incrementally create the best possible environment for MSMEs to do well. The administration is doing this in various ways from improving access to credit through the Central Bank, Development Bank of Nigeria and others”, ” Osinbajo stressed.
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